Thailand Cuts 2022 GDP Outlook on Ukraine War, China Slowdown

(Bloomberg) — Thailand’s main economic forecasting agency lowered its growth estimate for this year, and raised its inflation expectations, due to the impacts on the global economy from Russia’s war in Ukraine and a slowdown in China.

The National Economic and Social Development Council said Tuesday that it sees gross domestic product expanding 2.5% to 3.5%, lowering its outlook range by a full percentage point from its previous estimate.